China Banks’ Profit Growth Slowed Last Year as Economy Weakened

Profit growth at China’s banks slowed and bad loans climbed in 2012 as the world’s second-largest economy expanded at the weakest pace in 13 years.

Combined profit at Chinese lenders, including policy and commercial banks, and their foreign competitors in the country grew 20 percent to 1.5 trillion yuan ($243 billion) last year, the China Banking Regulatory Commission said in its annual report today. That compares with 39 percent growth in 2011.